FINRA reported disciplinary actions against Fidelity, Scottrade and TD Ameritrade for allegedly failing to disclose underlying credit ratings of insured muni bonds at or prior to the times of the transactions.  For details on these and other reported sanctions, go to:   [FINRA Disciplinary Actions for January]

    Fidelity Brokerage Services (Smithfield, RI) agreed to a $35K fine to settle FINRA charges it failed to determine in all municipal securities transactions whether the underlying credit rating of the issuer of an insured municipal security constituted material information that was required to be disclosed at or before
the time of purchase.  The firm allegedly failed to disclose to customers in connection with muni transactions, all material facts at or before the time of purchase, in that the firm failed to disclose to customers the underlying credit rating of insured muni bonds at or prior to the time of purchase. (FINRA Case #2008015470101)

    Scottrade (St. Louis, MO) agreed to a $35K fine to settle the same or similar FINRA charges that Fidelity was sanctioned for - see case, above.  (FINRA Case #2008016050101)

    TD Ameritrade (Bellevue, NE) agreed to a $35K fine to settle the same or similar FINRA charges that Fidelity was sanctioned for - see case, above.  (FINRA Case #2008016064401)